Wearing a bright red tie and an American flag pin on his lapel, the president pitched his budget and said he was stunned to learn crippled insurance giant AIG had paid out big bonuses to employees after using taxpayer money to stay afloat.

But he switched gears to talk about family life in the White House, confirming a timetable for the First Family's acquisition of a canine companion. Obama said the dog would arrive after his planned trip to Europe in early April.

"When we get back, the dog will be in place," Obama said, adding his daughters Sasha and Malia were not the only ones looking forward to its arrival. "They say if you want a friend in Washington, get a dog," he joked.

Has the hoopla over a pet that's not yet owned by the First Family gotten out of control?